executory trust

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• executory trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. executory trust n …   Law dictionary

• executory trust — ➔ trust * * * executory trust UK US noun [C] LAW ► a trust (= legal arrangement in which a person or organization controls another s money or property) that cannot be used until extra instructions have been received, because it does not give… …   Financial and business terms

• executory trust — In one sense, a trust not completely achieved in legal effect. In another sense, a trust indefinite in limitations of the equitable interest, so that it may be necessary to invoke the jurisdiction of equity to settle the limitations and model the …   Ballentine's law dictionary

• executory — ex·ec·u·to·ry /ig ze kyə ˌtōr ē/ adj: designed or of such a nature as to be performed in the future or to take effect on a future contingency cancellation of the executory portion of the contract J. J. White and R. S. Summers compare contingent… …   Law dictionary

• trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

• trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

• trust — A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. The person creating the trust, who may or may not also be the beneficiary, is called the grantor. Bloomberg Financial Dictionary See… …   Financial and business terms

• executory — /agzekyatoriy/ That which is yet to be fully executed or performed; that which remains to be carried into operation or effect; incomplete; depending upon a future performance or event. The opposite of executed. As to executory bequest executory… …   Black's law dictionary

• executory — /agzekyatoriy/ That which is yet to be fully executed or performed; that which remains to be carried into operation or effect; incomplete; depending upon a future performance or event. The opposite of executed. As to executory bequest executory… …   Black's law dictionary

• incomplete trust — See executory trust …   Ballentine's law dictionary

• transgressive trust — A trust which by its terms transgresses or violates the rule against perpetuities. Nothing is denounced as a perpetuity that does not transgress this rule, and equity follows this rule by way of analogy in dealing with executory trusts; and those …   Ballentine's law dictionary